As credit markets tighten, professionals and business owners alike have trouble finding access to credit to fund and grow business operations. Media reports indicate loans are harder to obtain and asset-to-debt ratios are stricter than ever. As cash dwindles the debt load rises. For the overwhelmed business owner bankruptcy is only one answer. There are other alternatives.

On December 22, 2010, an upstate New York bankruptcy court in an adversary proceeding filed by debtor Christopher Weber against SEFCU (“Credit Union”), granted Credit Union’s motion for summary judgment. 

Often people with less than perfect credit scores are surprised that
locating one standardized credit profile or a “uniform” credit report is more myth than reality. Judgments,
repossessions, slow payment history, tax liens--as well as bankruptcy filings--are reported to a varying degree by
creditor filings or with public record databases maintained by one of the three largest consumer credit reporting
agencies (“CRAs”). Sometimes adverse information is reported by other sources as well. In order to learn how
badly your credit rating may have been damaged, you must first identify what personally identifiable credit
information has been reported about you to the CRAs.

The law firm of Weltman & Moskowitz, LLP is delighted to announce the launch of its newly redesigned website, www.weltmosk.com.

NEW YORK, NY -

Weltman & Moskowitz, LLP is pleased to announce that Melissa A. Guseynov has joined the firm as an associate in the Bankruptcy and Creditors’ Rights Group.

PaperStreet Web Design's development team just wrapped up the brand new re-design of weltmosk.com.   The new site not only has a modern design but is using the latest web technologies, JavaScript libraries, and web standards.

NEW YORK, NY - On April 9, 2011, Michael L. Moskowitz, a founding member of Weltman & Moskowitz, LLP, participated, for the eleventh consecutive year, as one of three "appellate judges" sitting at Hofstra University School of Law in connection with oral arguments made by first-year law students.

NEW YORK, NY -

Richard E. Weltman, a founding partner in the law firm of Weltman & Moskowitz, LLP, was recently elected to the Board of Directors of the Executives' Association of Greater New York (EANYC) for a three-year term. Mr. Weltman has been a member of EANYC since 2004.

NEW YORK, NY - On December 23, 2010, outgoing Governor David Paterson signed major new legislation increasing the New York homestead exemption and other New York property exemptions. The law makes New York more competitive with other states. A chart of the major changes is set forth below.

FAIR LAWN, NJ - Richard E. Weltman, a New York and New Jersey business attorney concentrating on creditor protection, debt relief, and business counseling, and founding member of the law firm of Weltman & Moskowitz, LLP, was recently acknowledged by the United States Bankruptcy Court for the District of New Jersey for his service to New Jersey's low-income consumers in need of debt relief and bankruptcy services.

NEW YORK, NY - A chapter 7 debtor recently filed a motion before Bankruptcy Judge Alan Trust in the United States Bankruptcy Court for the Eastern District of New York seeking to avoid Pentagon Federal Credit Union's (PenFed) second mortgage (also known as "lien-stripping"). Weltman & Moskowitz successfully opposed debtor's motion on both procedural and substantive grounds, ensuring that PenFed's mortgage was enforced as written.

NEW YORK, NY - On March 25, 2010, Michael L. Moskowitz, a founding member of Weltman & Moskowitz, LLP, participated as one of the judges in the Plainview-Old Bethpage John F. Kennedy High School's 22nd Annual Moot Court Competition. The tournament was co-sponsored by the Hofstra University School of Law.

NEW YORK, NY - On November 26, 2008, Big box retailer bankruptcy filings are expected to mushroom following predicted tepid holiday sales this year, posing vexing challenges for their suppliers.

NEW YORK, NY - On September 25, 2008, Michael L. Moskowitz, a founding member of the law firm of Weltman & Moskowitz, LLP, presented an informative seminar to Deloitte, LLP professionals and support personnel at their New York City headquarters. Deloitte, LLP is one of the largest accounting and consulting firms in the world. The seminar was sponsored by the Deloitte Women's Initiative Learning and Development Committee.

NEW YORK, NY - On April 3, 2008, Michael L. Moskowitz, a founding member of Weltman & Moskowitz, LLP, participated as one of the judges in the Plainview-Old Bethpage John F. Kennedy High School's 20th Annual Moot Court Competition. The tournament was co-sponsored by the Hofstra University School of Law.

NEW YORK, NY - On March 29, 2007, Michael L. Moskowitz, a founding member of Weltman & Moskowitz, LLP, participated as one of the judges in the Plainview-Old Bethpage John F. Kennedy High School's 19th Annual Moot Court Competition. The tournament was co-sponsored by the Hofstra University School of Law.

NEW YORK, NY - Michael L. Moskowitz, a founding partner in the law firm of Weltman & Moskowitz, LLP, was recently elected to the Board of Directors of the Executives' Association of Greater New York (EANYC) for a three-year term. Mr. Moskowitz has been a member of the Executives' Association since 2004.

NEW YORK, NY -The United States Trustee's Office of the Department of Justice has rolled out a new program targeting chapter 7 and 13 debtors to random audits of their bankruptcy petitions, schedules and related tax and financial disclosures.

NEW YORK, NY - Richard E. Weltman, a founding member of the law firm of Weltman & Moskowitz, LLP, recently presented an informative seminar to members of the Estate Planning Committee of the New York State Society of Certified Public Accountants at their FAE Conference Center in New York City.

Whether you sell goods or services, your chance of doing business with a company now or soon to be embroiled in bankruptcy proceedings is probably not as remote as you'd hope it to be. While it may not be your job to keep another business from falling in with the chapter 7 or chapter 11 crowd, it makes sense to limit your exposure to the financial woes of a key customer or supplier.

NEW YORK, NY - Richard E. Weltman, a renowned New York and New Jersey bankruptcy and business lawyer, and a founding member of the law firm of Weltman & Moskowitz, LLP, was honored on May 3, 2006 by Legal Services of New Jersey and the New Jersey State Bar Association at the 20th Annual Legal Services Awards Reception for his tireless efforts on behalf of indigent consumers in need of bankruptcy assistance.

NEW YORK, NY -December 7, 2006. According to Richard E. Weltman, a pre-eminent bankruptcy lawyer with offices in New York and New Jersey, 2006 bankruptcy filings nationwide are down from one year ago, although there is some indication the trend may reverse in first quarter 2007 as a result of rising interest rates on adjustable-rate mortgages, among other factors.

NEW YORK, NY - Richard E. Weltman, a renowned New York and New Jersey bankruptcy and business lawyer, and a founding member of the law firm of Weltman & Moskowitz, LLP, was recently honored by Northeast New Jersey Legal Services at its annual awards reception for his tireless efforts on behalf of indigent consumers in need of bankruptcy assistance.

NEW YORK, NY Despite claims earlier this year that bankruptcy practice would return to normal, the bottom is continuing to fall out.

NEW YORK, NY - Richard E. Weltman and Michael L. Moskowitz, founding members of Weltman & Moskowitz, LLP, presented a practical seminar on recent changes to the Bankruptcy Code in a Half-Day Bankruptcy Conference to the New York State Society of Certified Public Accountants at their FAE Conference Center.

NEW YORK, NY - By a vote of 302 to 126, on April 14, 2005, the U.S. House of Representatives passed a bankruptcy reform bill which will become, for the most part, effective 180 days after it is signed into law by President Bush on April 20. The reform bill, which has stalled in Congress for more than seven years, will make filing for bankruptcy more difficult and costly, and will enhance the rights of creditors.

NEW YORK, NY - The Supreme Court ruled on Monday April 4, 2005, that creditors may not seize Individual Retirement Accounts when people file for bankruptcy.

NEW YORK, NY - As anticipated, Senator Charles Grassley(R-Iowa) introduced comprehensive bankruptcy reform legislation, revised for the 2005 legislative session, last week with several co-sponsors including a democratic senator.

NEW YORK, NY -- The rules regarding settlements of pre-bankruptcy lawsuits just got tougher for debtors as a result of the Supreme Court's 7-2 opinion reversing and remanding to the Fourth Circuit Court of Appeals its decision last year in re Warner (Archer v. Warner), 283 F.3d 230 (4th Cir. 2002).

NEW YORK, NY -- In a prior release, available on our What's New page, dated April 11, 2002, Michael Moskowitz, a New York bankruptcy practitioner counseled that even bankruptcy experts and courts can and often do disagree about how best to advise a potential bankruptcy debtor facing substantial, arguably non-dischargeable, fraud or intentional, tort claims. Until now it has largely depended on where a debtor lives.

NEW YORK, NY -- Sweeping consumer bankruptcy reform has been promised and much ballyhooed in the media for several years. While bankruptcy experts around the nation are uncertain about the ultimate fate of major reform legislation, according to Michael L. Moskowitz, a bankruptcy attorney who has closely followed the bills, the House adopted the most recent bankruptcy reform legislation late Wednesday, March 19, 2003, that would toughen bankruptcy rules for individuals and corporations.

NEW YORK, NY -- Even bankruptcy experts and courts can disagree about whether and how to settle a potentially non-dischargeable fraud or intentional tort claim.

NEW YORK, NY -- Section 524(c) and (d) of the Bankruptcy Code set forth the basis for reaffirmation agreements in chapter 7 bankruptcy cases. A reaffirmation is an agreement to pay a dischargeable debt that meets the requirements of these sections. Any other agreement to pay a discharged or dischargeable debt is without legal effect. These sections of the bankruptcy code are a result of coercive and deceptive tactics used by creditors to secure reaffirmation of discharged debts.

Many people with less than perfect credit find it difficult to obtain accurate credit information. And credit reports, even when obtained, regularly contain errors or omissions. Judgments, repossessions, slow payments, compromises, liens, and bankruptcies are irregularly reported by lenders or haphazardly acquired from public record databases by consumer reporting agencies ("CRAs").

(As adopted by the New York Administrative Board of the Courts)

Reciprocal trust, courtesy and respect are the hallmarks of the attorney-client relationship. Within that relationship, the client looks to the attorney for expertise, education, sound judgment, protection, advocacy and representation. These expectations can be achieved only if the client fulfills the following responsibilities:

Sweeping consumer bankruptcy reform has been promised and much ballyhooed in the media for several years now. As the current bills languish in Congress, bankruptcy experts around the nation are kept guessing about the ultimate fate of major reform legislation.

(As adopted by the New York Administrative Board of the Courts)

1. You are entitled to be treated with courtesy and consideration at all times by your lawyer and the other lawyers and personnel in your lawyer's office.